The Buying Process
The Buying Process
Purchasing a home is a journey filled with excitement and sentiment. Count on our team of local experts to navigate you through this process, ensuring you feel at ease and assured every step of the journey.
-01
Get Pre-Approved
The first step to buying a home is figuring out how much you can afford and setting a price range. You'll need to talk to a licensed lender who can check your finances and give you a pre-approval. They'll look at things like your income and credit history to decide how much money the bank can lend you. This helps you know the price range for your house hunt. Plus, having a pre-approval letter can make your offer more attractive, especially if there are lots of other offers on the table.
-02
The Home Search
Begin your quest for the ideal home by exploring current MLS listings in your preferred neighborhoods right here. Sign up for a free account to save properties you love, request showings, and enjoy additional features! As your dedicated REALTOR® team, we'll actively search for homes on your behalf. Once you've found a property you're interested in, we'll arrange a showing tour for you to personally view the home.
-03
Make An Offer
When you're prepared to take the next step towards purchasing, we'll guide you in crafting the most compelling offer. We'll handle all the paperwork on your behalf. Making an offer involves many factors, such as the purchase price, closing date, sale contingencies, and any special conditions specific to your purchase. After submitting your offer, the seller may accept, reject, or counter it. If there's a counteroffer, we'll engage in negotiations until an agreement is reached or either party decides to walk away.
-04
Going Under Contract
Once your offer gets accepted, you'll enter into a binding contract. The sale won't be finalized until the closing, but during this time, the home can't be sold to anyone else. Unless you're paying in cash, it's when you'll need to make an earnest money deposit and arrange for your mortgage loan. With various loan programs available, it's crucial to collaborate with a trusted lender who can assist you in selecting the most suitable loan for your individual needs.
-05
Home Inspection
Inspecting the physical condition of your prospective home is a crucial step in the home-buying journey. A licensed home inspector will thoroughly assess the property, highlighting any structural or system-related issues. They'll also investigate potential concerns like pest infestations or mold. Depending on the purchase agreement, further negotiations may be necessary to address any issues uncovered during the inspection.
-06
Home Appraisal
Once you've secured your mortgage, your lender will organize a professional appraisal of the home. This assessment provides an impartial estimate of the property's true value, conducted by a third-party appraiser. The appraiser's evaluation confirms the property's worth for everyone involved. Should the appraisal come in lower than anticipated, you might have the opportunity to renegotiate the purchase terms or decide to terminate the contract.
-07
Final Walkthrough
Before the closing date, we'll arrange a final walkthrough of the home to verify that all agreed-upon repairs have been addressed and that the property remains in the same, if not improved, condition as when the initial offer was made. This walkthrough serves as the last chance to identify any issues with the property before closing. Depending on the terms of the purchase agreement, you may sign a formal contract addendum to confirm the completion of the walkthrough and the satisfactory condition of the home.
-08
Closing!
It's time to celebrate! Your lender will furnish a final closing disclosure outlining the loan terms, monthly payments, taxes, and other closing expenses. They'll also verify that you're clear to close, and you'll sign all necessary paperwork to finalize your purchase and loan agreement. Once all parties have signed the paperwork and your loan is funded, you'll receive the keys, marking the moment you're all set to move into your new home!
-01
Get Pre-Approved
The first step to buying a home is figuring out how much you can afford and setting a price range. You'll need to talk to a licensed lender who can check your finances and give you a pre-approval. They'll look at things like your income and credit history to decide how much money the bank can lend you. This helps you know the price range for your house hunt. Plus, having a pre-approval letter can make your offer more attractive, especially if there are lots of other offers on the table.
-02
The Home Search
Begin your quest for the ideal home by exploring current MLS listings in your preferred neighborhoods right here. Sign up for a free account to save properties you love, request showings, and enjoy additional features! As your dedicated REALTOR® team, we'll actively search for homes on your behalf. Once you've found a property you're interested in, we'll arrange a showing tour for you to personally view the home.
-03
Make An Offer
When you're prepared to take the next step towards purchasing, we'll guide you in crafting the most compelling offer. We'll handle all the paperwork on your behalf. Making an offer involves many factors, such as the purchase price, closing date, sale contingencies, and any special conditions specific to your purchase. After submitting your offer, the seller may accept, reject, or counter it. If there's a counteroffer, we'll engage in negotiations until an agreement is reached or either party decides to walk away.
-04
Going Under Contract
Once your offer gets accepted, you'll enter into a binding contract. The sale won't be finalized until the closing, but during this time, the home can't be sold to anyone else. Unless you're paying in cash, it's when you'll need to make an earnest money deposit and arrange for your mortgage loan. With various loan programs available, it's crucial to collaborate with a trusted lender who can assist you in selecting the most suitable loan for your individual needs.
-05
Home Inspection
Inspecting the physical condition of your prospective home is a crucial step in the home-buying journey. A licensed home inspector will thoroughly assess the property, highlighting any structural or system-related issues. They'll also investigate potential concerns like pest infestations or mold. Depending on the purchase agreement, further negotiations may be necessary to address any issues uncovered during the inspection.
-06
Home Appraisal
Once you've secured your mortgage, your lender will organize a professional appraisal of the home. This assessment provides an impartial estimate of the property's true value, conducted by a third-party appraiser. The appraiser's evaluation confirms the property's worth for everyone involved. Should the appraisal come in lower than anticipated, you might have the opportunity to renegotiate the purchase terms or decide to terminate the contract.
-07
Final Walkthrough
Before the closing date, we'll arrange a final walkthrough of the home to verify that all agreed-upon repairs have been addressed and that the property remains in the same, if not improved, condition as when the initial offer was made. This walkthrough serves as the last chance to identify any issues with the property before closing. Depending on the terms of the purchase agreement, you may sign a formal contract addendum to confirm the completion of the walkthrough and the satisfactory condition of the home.
-08
Closing!
It's time to celebrate! Your lender will furnish a final closing disclosure outlining the loan terms, monthly payments, taxes, and other closing expenses. They'll also verify that you're clear to close, and you'll sign all necessary paperwork to finalize your purchase and loan agreement. Once all parties have signed the paperwork and your loan is funded, you'll receive the keys, marking the moment you're all set to move into your new home!
The Site
_____
The Site
_____
The Stazi Team is a team affiliated with Compass Real Estate—a real estate brokerage that operates in full compliance with the standards set forth by Equal Housing Opportunity laws. The purpose of the content presented is purely informational. Although we rely on what we believe to be reliable sources, there may be instances of inaccuracies, missing information, adjustments in listing prices, conditions, or the premature withdrawal of listings, all without prior notice. We do not assert the accuracy of any provided descriptions. It's important to understand that all provided measurements and estimates of square footage are not exact. Our communications are not intended as an effort to attract listings that are already represented. Additionally, the information shared should not be seen as legal, financial, or any specialized advisory service outside the scope of real estate brokerage activities.
